The ETFX DAX® 2x Long Fund (DEL2) is designed to track the performance of the LevDAX® x2 Index (the "Tracked Index"). The Tracked Index is a strategic index that is designed to provide twice the daily percentage change in the level of the DAX® Index (the "Underlying Index") less a set level of interest.
This magnified exposure is known as 'leveraged' exposure. For example, if the Underlying Index was to decrease in value by 5% on a particular day, the Tracked Index is designed to decrease in value by 10% on that day. DEL2 is designed to reflect the performance of the Tracked Index, minus fees and expenses. DEL2 is an exchange traded fund ("ETF"). Shares in the ETF can be created and redeemed on demand by authorised participants and are traded on exchange. The ETF is authorised and regulated as a UCITS and is eligible for investment by other UCITS. The ETF is backed by unfunded swaps.